Sukuk financing
Mayzuh Company Limited: The Sukuk Powerhouse in Africa
From its Financials Department, Mayzuh Company Limited embarked on a business of looking for strategic investors to finance various projects across the African continent and beyond. Working with its partners in Dubai, South Africa, Kenya, Uganda, Zambia and United Kingdom, Mayzuh Company Limited can link you to financiers for your projects in order to get the financing you need. All you need to do is to sign off Non-Disclosure and Confidentiality Agreement and a Consultancy contract with us in which you appoint us to act on your behalf to find the appropriate financiers for your needs via Sukuk bond issuances.
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Premier Sukuk: Mayzuh Company's Ever 1st Sukuk
Mayzuh Company Limited have facilitated the issuance of Premier Sukuk -the first ever Socially Responsible Investments (SRI) Sukuk, in Sub-Saharan Africa. This is non-other than Premier Sukuk with Yusra Sukuk Company Limited, a Tanzanian-based Capital Markets dealers. The five-years maturity game changer Sukuk in Tanzanian local markets was intended for TZS 1.2 billion but ended up at TZS 1.94 billion. It has a yield rate of 13% per annum payable twice a year with commencement from 3rd June 2024 is expected to mature at 2029. The Sukuk has been issued for building Premier Girls Secondary School hospital that will serve both Premier Schools (Girls and Boys, Pre, Primary and Secondary) as well as the communities around the schools in Bagamoyo district located in Pwani region in Tanzania. Mayzuh Company Limited is among the Top 10 global Islamic Consultancy Firms as per Islamic Financial News, based in Kuala Lumpur, Malaysia.
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Fay Sukuk Closes with Oversubscription at TZS 1.503 billion
Fay Sukuk issued by Fay Sukuk Properties Company Limited, was opened for its subscription as private placement Sukuk issuance. Mayzuh Company Limited structured the Sukuk, the first real estate Sukuk in Tanzania capital markets. The Sukuk, a 5-year tenor was a Hybrid Ijarah/Istisna with annual rental rate of 13%, was approved by CMSA for subscription on 22nd of July 2026 and opened its subscription on 5th August but started investors subscription on 11th August 2026. The Sukuk closed its subscription on 15th August closing at TZS 1.503 billion which is 117% oversubscription with a TZS 3.0 million above the approved oversubscription amount. The Sukuk was led by Yusra Sukuk Company Limited, as the Sukuk Lead Arranger/Transaction Manager. This Sukuk opens the way for more real estate Sukuk as it has showed that there is a huge investors' appetite to force the lead Arranger to limit the number of investors who could invest into it otherwise, it would have been oversubscribed many times. Mayzuh Company Limited is currently structuring Uburezi Sukuk in Rwanda which is a US$ 17 million for the University of Kigali new campus. The Sukuk is expected to be issued soon.
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Mayzuh to Issue a Gold Mine Sukuk in Zambia
Mayzuh Company Limited (Zambia) has secured a deal to issue a Sukuk for a mining project in northwestern Zambia. The mini, Kabimba Resources Limited Gold Mine, is a new gold mine that is looking for capital to start its mining operation as early as 2027. The Sukuk, a US$ 100 million 5-year tenor, being issued by the mine's Special Purpose Vehicle (SPV) called Kabimba Gold Sukuk Limited, is destined for EAC, SADC and COMESA regions, is with a rate of return 6.75% per annum payable semi-annually. The Sukuk will be the first in mining industry in east and central Africa and will attract investors even beyond east Africa, SADC region contributing into Zambia's capital market's growth. Mayzuh has also entered into a Consultancy Agreement with Mwayi Argisol Project to issue a Sukuk worth USD 30.0 million with five years maturity, for the construction and running costs of a state-of-the-art building materials in Kapiri Mposhi Zambia. This is expected to be the largest Sukuk issuance in Zambia and indeed the whole of central Africa.
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More Sukuk to Come in Tanzanian Market
As the signs are showing, there is an increasing demand for financing in Africa with infrastructure estimated at an annual USD 100 billion according to Africa Development Bank (AfDB, 2019 report). Tanzanian corporates are showing a great appetite for Sukuk trough Mayzuh and Yusra Sukuk. We hope many more Sukuk are along the way into the capital market in Tanzania
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